The railroad problem and its solution: As explained by Albert Fink, in his argument before the Committee on commerce of the U.S. House of ... to the bill to regulate interstate commerce

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1880. Excerpt: ... from the Clearing House plan, chartered by the government in England, practically the same results are attained by it. To show that the British government did not hesitate to assist the railroads in conducting their business so as to secure unity of management, I will read the Act of the British Parliament, passed June 25, 1850, which authorized the combinations of a number of the railroads for the purpose of conducting their business as one road. CLEARING ACT. An Act for regulating legal proceedings by or against the Committee of Railway Companies, associated under the Railway Clearing System, and for other purposes, 13 and 14 Vic., cap. xxxiii., 25th June, 1850. Whereas, For some time past arrangements have subsisted between several railway companies for the transmission, without interruption, of the through traffic in passengers, animals, minerals and goods, passing over different lines of railway, for the purpose of affording, in respect to such passengers, animals, minerals and goods, the same or the like facilities, as if such lines had belonged to one company, which arrangements are commonlyknown as, and in this act are designated as, "The Clearing System," and which arrangements are conducted under the superintendence of a Committee appointed by the Boards of Directors of such several railway companies, which Committee is in this act designated, "The Committee," And whereas, the Clearing /System has been productive of great convenience to the public, and of a considerable saving of expense in the transmission of passengers, animals, minerals and goods over the lines of the several railway companies, parties to such association; but considerable difficulty has been experienced in carrying into effect the objects of the association, in consequen...